FIRSTSUN CAPITAL BANCORP

For the period ended Jun 30, 2024. Filed Aug 9, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 9, 2024

FSUN$39.48+0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income and Comprehensive Income

For the three and six months ended June 30,

	Three months ended June 30,		Six months ended June 30,
(In thousands, except per share amounts)	2024	2023	2024	2023
Interest income:
Interest and fee income on loans:
Taxable	$100,839	$90,480	$198,152	$174,417
Tax exempt	4,345	4,840	9,300	9,504
Interest and dividend income on securities:
Taxable	4,767	4,221	9,250	8,378
Tax exempt	5	6	9	13
Other interest income	4,573	2,485	7,858	4,623
Total interest income	114,529	102,032	224,569	196,935
Interest expense:
Interest expense on deposits	38,484	20,729	74,874	34,908
Interest expense on securities sold under agreements to repurchase	47	68	104	98
Interest expense on other borrowed funds	3,099	7,400	5,886	13,977
Total interest expense	41,630	28,197	80,864	48,983
Net interest income	72,899	73,835	143,705	147,952
Provision for credit losses	1,200	4,422	17,700	7,782
Net interest income after credit loss expense	71,699	69,413	126,005	140,170
Noninterest income:
Service charges on deposit accounts	5,946	5,358	11,714	10,373
Credit and debit card fees	3,007	3,057	5,810	6,038
Trust and investment advisory fees	1,493	1,478	2,956	2,939
Income from mortgage banking services, net	11,043	11,659	20,545	19,088
Gain on other real estate owned and foreclosed assets activity, net	11	—	11	—
Other noninterest income	1,774	2,738	5,046	4,783
Total noninterest income	23,274	24,290	46,082	43,221
Noninterest expense:
Salary and employee benefits	39,828	34,056	77,181	69,105
Occupancy and equipment	8,701	8,135	17,296	16,490
Amortization of intangible assets	652	2,050	1,467	3,094
Merger related expenses	1,046	—	3,535	—
Other noninterest expenses	13,648	13,802	26,224	25,620
Total noninterest expense	63,875	58,043	125,703	114,309
Income before income taxes	31,098	35,660	46,384	69,082
Provision for income taxes	6,538	7,654	9,528	14,795
Net income	$24,560	$28,006	$36,856	$54,287
Other comprehensive income (loss):
Net unrealized gain (loss) securities available-for-sale	6,620	(4,103)	1,886	(2,516)
Other comprehensive income (loss)	6,620	(4,103)	1,886	(2,516)
Comprehensive income	$31,180	$23,903	$38,742	$51,771
Earnings per share:
Net income available to common stockholders	$24,560	$28,006	$36,856	$54,287
Basic	$0.90	$1.12	$1.35	$2.18
Diluted	$0.88	$1.11	$1.32	$2.14

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.